Santander bank charges

Patchaddy57

The recent communication from Santander will increase my business bank account charges from £12.50 per month to at least £250.00 per month based on charges for depositing cash. Is there any way round this? 

eskbanker

Options include:

1. Take your custom elsewhere (switching isn't difficult)
2. Lodge a formal complaint with Santander and escalate to FOS if unsatisfied
3. Join the discussion of their changes on the main thread about this:

https://forums.moneysavingexpert.com/discussion/6617469/santander-free-forever-bank-account-changes

GeoffTF

Do not accept cash payments.

Patchaddy57

GeoffTF said:

Do not accept cash payments.

We have a retail business, many of our customers are elderly and don't have access to card payments. 

eskbanker

Another (probably less appealing) option would be to increase your prices, to reflect the increase in your costs?

GeoffTF

Search in Google for "business banking charges to deposit cash".

Nasqueron

Patchaddy57 said:

GeoffTF said:

Do not accept cash payments.

We have a retail business, many of our customers are elderly and don't have access to card payments. 

Or rather, choose not to use cards, mine are late 70s and early 80s, and pay cards fine

Sad that unwillingness to learn costs you more money for the cash use

Zanderman

Nasqueron said:

Patchaddy57 said:

GeoffTF said:

Do not accept cash payments.

We have a retail business, many of our customers are elderly and don't have access to card payments. 

Or rather, choose not to use cards, mine are late 70s and early 80s, and pay cards fine

Sad that unwillingness to learn costs you more money for the cash use

Using cash doesn't mean you haven't 'learnt' to use cards.  The customers concerned may just prefer to use cash.

Nasqueron

Zanderman said:

Nasqueron said:

Patchaddy57 said:

GeoffTF said:

Do not accept cash payments.

We have a retail business, many of our customers are elderly and don't have access to card payments. 

Or rather, choose not to use cards, mine are late 70s and early 80s, and pay cards fine

Sad that unwillingness to learn costs you more money for the cash use

Using cash doesn't mean you haven't 'learnt' to use cards.  The customers concerned may just prefer to use cash.

The post I quoted literally states:

We have a retail business, many of our customers are elderly and don't have access to card payments. 

It doesn't say they prefer to use cash

Zanderman

Nasqueron said:

Zanderman said:

Nasqueron said:

Patchaddy57 said:

GeoffTF said:

Do not accept cash payments.

We have a retail business, many of our customers are elderly and don't have access to card payments. 

Or rather, choose not to use cards, mine are late 70s and early 80s, and pay cards fine

Sad that unwillingness to learn costs you more money for the cash use

Using cash doesn't mean you haven't 'learnt' to use cards.  The customers concerned may just prefer to use cash.

The post I quoted literally states:

We have a retail business, many of our customers are elderly and don't have access to card payments. 

It doesn't say they prefer to use cash

It doesn't say they haven't learnt how to do card payments either. 

retiredbanker1

Sounds like a corner shop type of business - to reduce cost in banking cash - do you offer cashback? Can you pay some of your bills/wages in cash? If you have lots of coin do you have any pubs nearby that could take them from you?
Nearly all High Street banks will charge for cash deposits - but some might offer you 12/18 month free for switching?